Rays Experts commissions 700MW solar energy projects in India

By: |
November 17, 2020 5:29 PM

These projects include a 440 MW solar plant inside the park, 210 MW solar plant outside the park, 49 MW rooftop installations for commercial/industrial sites, and 4 MW units across 8,400 homes.

The imposition of anti-dumping duty in 2018 was also met with a lot of criticism.With the decline in battery prices, this story is now coming to pass. For example, 19GW of solar PV projects with storage are under construction in the US.

Solar solution provider and park developer Rays Experts on Tuesday announced that it has commissioned solar projects of around 700 MW capacity across the country. These projects include a 440 MW solar plant inside the park, 210 MW solar plant outside the park, 49 MW rooftop installations for commercial/industrial sites, and 4 MW units across 8,400 homes.

“Rays Experts successfully commissioned solar projects totalling 700 MW across the country,” a company statement said. These projects include ground-mounted solar panels for 230 clients including Delhi Metro, NDMC, airports, IITs and NITs, defense establishments, industries, and major hotel chains alongside others, the statement said.

Rahul Gupta, MD & CEO of Rays Experts, said, “Our company has shown tremendous growth despite the COVID landscape and we are highly optimistic about our future and the future of solar in India…we now look forward to crossing the Rs 1,000 crore annual revenue landmark within the next four years.”

Rays Experts aims at venturing deeper into the commercial space and achieve a YoY (year on year) growth of 20 per cent by completing three more solar parks over the next financial year.

Since India is estimated to have over 10 GW additional solar plants within the next two years, Rays Experts has its sights set on institutional projects and becoming a leader in residential rooftop installations by powering 330 million homes across the country.

The company also plans to invest Rs 30 crore in solar parks across three states. Rays Experts is currently working to raise Rs 100 crore to cater to both institutional projects and residential solar programmes. It has already aligned projects totalling 210 MW and is projected to reach a 1,000 MW milestone by end of this financial year.

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